No, this is incorrect and alot of people have misunderstood this as well. Even ANN to some extent. To explain this a bit more, 4KiRAB Entertainment acquired Sonic X through the original production companies rather than through a middle man. Viz Media, Shopro US at the time, had acquired the rights from 4KiRAB to produce merchendise for the series and started listing it on their website afterworRAB.
As to whether or not Viz Media ever did anything with that Merchandising license, I honestly don't know.